Monthly Archives: January 2017
A Closer Look At Chapter 13 Bankruptcy
Written on , by BLP
Chapter 13 bankruptcy is also known as reorganization bankruptcy. Unlike Chapter 7 bankruptcy, you can possibly keep all of your property, but you also will have to repay all of the debt you owe, or at least most of it, over the course of up to five years. Some of the debt that must be Continue Reading
Statute of Limitations on Debt
Written on , by BLP
Did you know that there is a legal limit to the number of years that a creditor has the legal right to sue you? Whether it’s credit card debt or medical bills, that debt becomes “time-barred” if the statute of limitations has passed. Creditors can still attempt to collect the debt by the usual means, Continue Reading
Median Household Income Has Fallen Behind Cost of Living Since 2003
Written on , by BLP
Are You Wasting Too Much of Your Income? Household income on average is currently lower than the cost of living as the graphic shows below. Living in a pattern where spending is more than income can only lead to one thing: DEBT. This statistical data shows average levels of income and average levels of costs Continue Reading
Bankruptcy and Your Credit Score
Written on , by BLP
Your credit score can have an impact on many different aspects of your life. It can impact your employment, living arrangement, and even your relationships. It is no surprise that for those dealing with debt related problems, credit score is often a concern. The difficulty in addressing impacts on your credit score is that everyone Continue Reading
Unemployment – How Soon Can You File Bankruptcy After You Lose Your Job?
Written on , by BLP
An unexpected event such as unemployment is never easy to manage if you don’t have financial reserves to depend on. Even if you do have financial reserves, it is difficult to plan a future around an unemployed situation. Unemployment can occur unexpectedly through a layoff or by getting fired from your job. When this happens Continue Reading
Eliminating Debt in Retirement
Written on , by BLP
Are you retired or considering retiring soon? If debt is a major issue that is keeping you from enjoying retirement or preventing you from retiring, consider a bankruptcy to help relieve you of your debt to help you achieve your retirement goals. A bankruptcy can eliminate several types of consumer debts including credit card debt, Continue Reading
Pay the Highest Interest Rate First
Written on , by BLP
If you are looking to eliminate your debt by making payments towards various types of debt like credit cards, auto loans, student loans, cash advance loans, or any others, a good strategy to follow is to try to contribute to your highest interest rate debts first. Prioritizing higher interest rates can help you relieve all Continue Reading